Danish transport and logistics group DSV has made a bid to acquire Swiss-based Panalpina.
“We have not yet received a response to our indicative and private proposal from Panalpina’s board of directors,” a spokesman said.
“The combined business would generate expected revenues of more than DKK 110bn (R230.07bn) and EBITDA of more than DKK 7bn (R14.64bn) on a pro-forma 2018 basis (excluding any synergy benefits),” he added.
“According to its fiduciary duties, the board of directors of Panalpina is reviewing the proposal in conjunction with its professional advisers,” according to a statement from Panalpina.
